Craymer, the principal investor, said it had been difficult to combat the “constant knocking ... Despite wonderful audiences, standing ovations and positive social media it has proved very difficult to fight back when such negativity was cast, especially in these very tough economic times.”

She had “lived and breathed” the show for four years so the decision was “extremely difficult. Everyone involved has worked so hard so it is upsetting.

“The show has evolved since we first opened and is now brighter, lighter and funnier, but despite the wonderful audiences and extremely positive feedback we just can’t make it work.” She said she had loved working with Saunders who was “a genius at creating great female characters”, which musical theatre needed more of.

Craymer said she would consider a new show “when an equally challenging and interesting opportunity arises. But for now I have to look after the show and ensure our last eight weeks are the most joyous of the run.

“These days you have to be fearless to produce a new musical, something that is not a revival, a film or a tribute show, but something really original.”

Some fans of Viva Forever! announced their disappointment on Twitter today, and vowed to be at the closing night.

Spice Girls Geri Halliwell and Emma Bunton had encouraged the production. Their manager, Simon Fuller, was also among investors.

Terri Paddock, managing director of the Whatsonstage website, said: “Making a successful musical is hard, trying to remake it after it’s been deemed unsuccessful is near impossible. Expectations and advance bookings for Viva Forever! were high, but once reviews like that come out and bad word of mouth spreads, it’s very difficult to change perceptions.”

Sir Cameron Mackintosh, producer of many hit shows, spoke out two years ago on the difficulty of premiering in the West End, when his highly acclaimed Betty Blue Eyes closed after six months. Audiences wanted to see the long-running hits when budgets were tight, he said.

DJ Mike Read’s musical story of Oscar Wilde closed after one night; Bernadette, a musical about the saint, shut within a month, and The Fields Of Ambrosia — about an electric-chair executioner — lasted two and a half weeks. Trevor Nunn’s Gone With The Wind managed 79 performances.

Andrew Lloyd Webber has reworked Phantom Of The Opera sequel Love Never Dies after the London premiere failed to wow critics.

Yet Wicked defied less-than-impressive reviews when it opened in 2006 to build a loyal fanbase and take millions at the box office.